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Forces And Trends Paper

Running head: FORCES AND TRENDS RESEARCH


Forces and Trends Research
Introduction
Strategy formulation and environmental scanning are two intimate and interrelated business processes. Pearce and Robinson (2004, p. 78), explain, “A host of external factors influence a firm’s choice of direction and action and, ultimately, its organizational structure and internal processes.” Business leaders often divide these factors into three subcategories: the remote, industry, and operating environments. This paper will analyze four different companies—Wegmans, Z-medica, Pfizer, and Starbucks Corporation, and some external forces or trends which may impact the future of their business operations. It will examine the concept of strategic adaptability and its relevance in light of the aforementioned companies. Finally, it will provide some examples and recommendations of strategy adaptations in response to dynamic environmental trends. A comprehensive and continuous environmental scan is critical for businesses to capture their own competitive advantage.
Dave Caswell
Remote Environment: Social
“The social factors that affect a firm involve the beliefs, values, attitudes, opinions, and lifestyles of persons in the firm’s external environment, as developed from cultural, ecological, demographic, religious, educational, and ethnic conditioning” (Pearce & Robinson, 2004, p. 79). Wegmans’ customers, local community, suppliers, distributors, and competitors are all dynamic groups of people who comprise their external environment. An environmentally friendly way of life and a health conscious mindset are two recent social trends that have begun to influence all those groups. Therefore, in order for Wegmans to maintain a competitive advantage in their industry, they must analyze and adapt to trends of this nature.
As reported in an article titled, “Environmental concerns, healthy eating, home remodeling: Key trends in 2008,” by the PR Newswire (2008, ¶ 2), “The rising cost...